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Samundri Devi vs M/S Emerging India Housing Corporation ... on 5 April, 2023 cites

Ajay Kumar Radheyshyam Goenka vs Tourism Finance Corporation Of India ... on 15 March, 2023

Thus, under Section 79 (15) (b) it is clearly defined that "excluded debt"  means the liability to pay damages for negligence, nuisance or breach of a statutory, contractual or other legal obligation. In the present case, in all the consumer complaints, the complainants/buyers booked their respective dwelling units under different schemes in the company named Emerging India/Emerging Valley of which the applicant, is admittedly the Managing Director. Neither possession of the dwelling units was delivered to them nor the amount paid by them towards their respective dwelling units was refunded. Ultimately, they filed consumer complaints before this Commission and those  have been allowed and damages in the shape of compensation have been awarded. Thus, the decreetal amount in each complaint has become "excluded debt"  under Section 79 (15) (b) of the Code. Consequently, the provisions of Section 94 of the Code are not applicable to the cases, out of which these applications have arisen.           Besides, as above, Emerging India Housing Corporation Private Limited is not a corporate debtor before the NCLT. Even M/s Emerin which is a corporate debtor before the NCLT is not a party in any of the consumer complaints pending before this Commission.              Now, the Hon'ble Supreme Court in the latest judgment in case_ Ajay Kumar Radheyshyam Goenka Vs. Tourism Finance Corporation of India Ltd., [Criminal Appeals No. 170-171-172  of 2023] [Criminal Appeal No. 171/2023] decided on 15.03.2023 has held that the directors of a Company are liable under the criminal proceedings and  thus, the proceedings cannot be stayed against them. Relevant part of the said order is reproduced hereunder:-
Supreme Court of India Cites 86 - Cited by 26 - S K Kaul - Full Document
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